New PDF release: The Doha Round of Multilateral Trade Negotiations: Arduous

By Dilip K. Das

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Additional info for The Doha Round of Multilateral Trade Negotiations: Arduous Issues and Strategic Responses

Sample text

The multilateral trade regime governing international trade is a global public good (GPG). A GPG can be underprovided and malprovided leading to suboptimal, undesirable, outcomes. This is obvious from the current state of the contentiousness in the multilateral trade system. Failures in Seattle and Cancún are two of the most recent reminders. It is vitally important that the participating members of the WTO take a global public good perspective of the MTNs, and reform the global public policy provisions accordingly.

An intensive scrutiny of past multilateral negotiations reveals numerous instances of such uneven exchanges between the industrial and developing economies. Such imbalances in negotiations developed due to a flawed decision-making process in the GATT/WTO system. Improvement in the bargaining platform of the developing economies can potentially diminish the ‘grand bargain’-like imbalances, which in turn would enhance their benefits from international trade and consumption of GPG. To this end, fundamentally recasting the multilateral trade negotiation in such a manner that the development objective remains an integral part of it, is another desirable goal.

As the earlier rounds of MTNs focused on issues of interest to the industrial economies, a good deal of institutional and academic dialogue 34 The Doha Round took place between 1995–2001 on the need for a round concerned with issues of interest to the developing economies. The intervening period covering the completion of the Uruguay Round and the launch of the Doha Round was focused on an elongated intellectual dialogue and policy debates on the need to redress the imbalance in this regard. That there was a need to integrate various sub-groups of developing economies fully into the global trading system was emphasized by many trade analysts.

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